Why Did This 288 GTO-Bodied Racing Ferrari Drop In Price By Over $275,000?

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And why it could be an awesome bargain.

What you’re looking at is obviously special. In fact, there are only three of these things out there, and this is chassis 002. This Huffaker Ferrari IMSA GTU racer, completed in 1990, was built with a race-prepared 308 engine but its body is inspired by the iconic 288 GTO. Thing is, none of the cars ever raced due to a change at IMSA that only allowed bodywork within three years of current production to participate.

Chassis 002 has only been raced at a few track events, such as at a Ferrari Club of America track day, two SCCA regional races, and a private track day. And get this: This thing out-qualified an F40 by 2.9 seconds at a Summit Point Ferrari Club meet. Power output is said to be 390 horsepower at 9600 rpm. Total weight is around 2,000 lbs. Its Huffaker chassis is designed using an inboard rocker arm type suspension, which reduces unsprung weight and makes spring changes and ride height more easily adjustable. Its 308 engine has also been re-engineered and was somehow shortened by 3.5 inches so that it’d fit within the chassis. It even features a Testarossa belt-equipped timing system.

There are 13-inch Alcon brakes and 16-inch center-lock BBS wheels, 10- and 12-inches wide front to rear, respectively. Also take note of the inboard air jacks. Now, its price. Originally posted last June on eBay, the asking price then was $425,000, or best offer. No one bought it. But now it’s popped up again for a heavily reduced price of $149,995, a drop of over $275,000. Photos courtesy of prova/eBay Motors.